1. Robert McFarlane EVP & Chief Financial Officer February 28, 2012 Morgan Stanley Morgan Stanley Technology, Media & Telecom Conference

2. 2 TELUS Forward Looking Statement Today's answers to questions contain statements about expected future events and financial and operating performance of TELUS that are forward-looking. By their nature, forward-looking statements require the Company to make assumptions and predictions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future performance and events to differ materially from that expressed in the forward-looking statements. Accordingly our comments are subject to the disclaimer and qualified by the assumptions (including assumptions for 2012 annual targets and LTE roll out plan), qualifications and risk factors (including the ability over time to sustain dividend growth of circa 10% per annum with semi-annual dividend increases to 2013, and CEO three year goals for EPS and free cash flow growth to 2013) referred to in the Management’s discussion and analysis in the 2010 annual report, and in the 2011 quarterly reports. In addition, there can be no assurance that the proposal for shareholders to eliminate the Company’s Non-Voting Share class at the May 9, 2012 shareholder meeting, will receive voting approval by both classes of shares, and if not approved the market price of Non-Voting and Common shares may decline. Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements, and reserves the right to change, at any time at its sole discretion, its current practice of updating annual targets and guidance.

3. Robert McFarlane EVP & Chief Financial Officer February 28, 2012 Morgan Stanley Morgan Stanley Technology, Media & Telecom Conference